Nowadays, everyone thinks about how to invest some money into various available investment options for safeguarding their future.

Investing for
his/her child is one of the top-most priority for any individual as
it ensures that factors like rising cost of education and higher
studies, healthcare and other related expenses are taken care of.
Investing in term plans for overall coverage is a good option
however, going by the specific needs of a child, a specialised child
insurance plan makes better sense.

In
Focus

Apart from the
rising costs, there are several other factors which make it necessary
to have a child plan instead of investing in other options. Some of
the most commonly occurring questions that come in the mind before
buying a child plan are:

-What will happen to
your family after your death?

-From where will
your child get proper education?

-Who will provide
funds to your child for a secure future?

-After you, how will your child live a stable life?

As a parent, these questions may rise several times in your mind.
Some chose to ignore them while some take it seriously and start
finding the ways to secure their child's future.

You might also be thinking on the same lines and maybe feeling a
bit confused on how to go about it. So here is the answer - a child
plan which assists your child financially at every important stage of
his life is your best option.

From education to marriage, a child plan will be there for your
child when you are not. A child plan will provide a fixed amount to
your child or nominee as stated in the policy document. In short, it
will provide financial support for your child at every step like
school, college, wedding, etc.

Benefits of having achild plan:

·Provides financial coverage to your child

·Cost effective

·Secure future aspects of your child

·Provide peace of mind

·Assist your ward in living a stable life

Now, the question that arises is why opt for a child plan for your
ward when there are many different options of investment available
like the term, Ulips and much more?

The answer to that is fairly simple. Other investment plans which
are available in the market have some limitations regarding the
payment procedures, whereas the child plan does not. A child plan is
specially designed to meet a child's need for a secure future
whereas other plans doesn't.

To give you further clarity on why to go for a child plan instead
of a term plan, let us compare and discuss their respective features

Which is the
best child
plan for
you?

Normally, people have this question in mind, but there's no
appropriate answer to this as the type of the child plan depends upon
the requirement of insured. You should carefully compare and then buy
the child plan, which suits your need and which meets the future
needs of your ward.

How to choose the best
child plan

There are many companies in the market, which are offering child
insurance plans like Max Life, HDFC Life, Bajaj Allianz, etc. Online
child plans are cheaper as compared to offline. You will get maximum
benefits at low prices from an online child plan. What you have to do
is a thorough comparison. There are many web aggregators that can
assist you to choose a child plan online.